Strong market boosts Clarkson

UK-based shipping services group Clarkson PLC has reported half-year revenue up 53% to £73.2m (US$144.7m) and operating profit on continuing operations up 41% to £9.6m. Profit before taxation on continuing operations is up 32% to £12.3mand the company has announced an interim dividend up 17% to 14.0p. The six month period saw Clarksons take over three companies, Cofimar SA (France), LNG Shipping Solutions (UK) and Normarine Offshore Consultants (US) “to expand and strengthen specific areas of the business”.

Clarksons' chairman, Tim Harris, said: “The result for the first half was encouraging and reflected both a strong shipping market and the benefits which are now coming through from the acquisition of businesses and teams in key business lines. This solid first half result establishes a good platform for the full year.”

CEO Richard Fulford-Smith said: “We are optimistic that 2007 will prove to be a strong year for Clarksons. As a result of our strategy to increase the spread of our global businesses and the strength of our forward order book, we are confident that despite turbulence in financial markets in August, we should produce full year profits in line with management expectations and continue to grow our position as the world’s leading shipping services group.”